SBI unveils wealth management service SBI Exclusif

New Delhi: State Bank of India (SBI) launched its wealth management service SBI Exclusif in the national capital—the first of the kind to be introduced by a public sector bank.

SBI, earlier this year, had launched it in Bengaluru on a pilot basis.

“After the success of pilot run, SBI is launching the service, first in Delhi and within 10-15 days in Mumbai. The plan is to gradually cover around 37 centres across India till March 2017,” SBI chairman Arundhati Bhattacharya said.

SBI Exclusif will be open to customers with a wealth base of ₹ 30 lakh, which may be relaxed to ₹ 10-15 lakh if the bank feels the customer has the potential for scaling up wealth; it also targets salaried individuals having a monthly income of more than ₹ 2 lakh.

“The bank has a target to reach out to 5,500 customers, including both existing and new, in the current financial year,” Bhattacharya added.

The customers will have access to a dedicated relationship manager (RM) supported by a team of investment experts to take care of banking and investment needs through various channels i.e. in-person or remotely via call or video conversation.

Physical managers can cater to around 15 customers and remote managers can cater to up to 30 customers per day. The e-Wealth centres will be remotely available for extended hours. Exclusif customers will have the ability to view their portfolio, transact and invest on digital channels.